China has a unique quirk to its real estate model: people pay up front for their homes, then wait for them to be built. The one holding the note on a house in China is the bank.
China has a unique quirk to its real estate model: people pay up front for their homes, then wait for them to be built. The one holding the note on a house in China is the bank.
China has a unique quirk to its real estate model: people pay up front for their homes, then wait for them to be built. The one holding the note on a house in China is the bank.
Reminds me of an old Woody Allen line:
"We'll manage your money until there's no money to manage."
Perversely, this could also describe the policies of the Federal Reserve